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SUBSEQUENT EVENTS | 3 Months Ended
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Mar. 31, 2025
Subsequent Events [Abstract] |
Subsequent Events |
20. SUBSEQUENT EVENTS
In April 2025, the Company completed and closed two securitizations of residential mortgage loans, OBX 2025-NQM6, with a face value of $553.2 million, and OBX 2025-NQM7, with a face value of $572.4 million. These securitizations represent financing transactions which provided non-recourse financing to the Company collateralized by residential mortgage loans purchased by the Company. In April 2025, the Company upsized capacity of an existing credit facility by $100 million for the Company’s residential mortgage loans. On May 8, 2025, the Company entered into separate Distribution Agency Agreements with certain sales agents, which agreements terminated and replaced the Prior Sales Agreements. For additional information, see “Part II—Item 5. Other Information—Current At-the-Market Sales Program.”

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
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